Tag: cut deficits

–Why the war between the police and the public?

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap.

=========================================================================================================================================================================================================================

The police are our defense against the people who would hurt us. Every day, they face mortal danger to protect us. So why do we see this story in the Washington Times?

Police officer deaths in the line of duty double as morale sinks to new low

Law enforcement morale is at an all-time low as uniformed officers endure increased pushback from the communities and politicians they’re risking their lives to protect, and a new report released Monday shows on-duty law enforcement deaths in 2014 occurring at nearly twice the previous year’s rate.

The answer is complex, but I believe it boils down to one word: Control.

The number of law enforcement officers who were feloniously killed in the line of duty in 2014 increased 89 percent as compared to the year prior — with most dying after being shot by gun-carrying criminals, according to a preliminary report issued by the FBI on Monday.

The virtual disappearance of gun control in America means that anyone can have a gun and carry a gun. And humans being humans, a bit of anger, the need for revenge, the desire for larceny — all lead to shootings, planned or spontaneous, by someone carrying a gun.

Some percentage of the people, subject to a traffic stop, will be angry at the police officer. And since more people legally carry guns, there is an increased likelihood they will shoot the officer. It’s a matter of mathematics: More guns in the hands of angry or vengeful or larcenous people = more gun usage.

A “gun carrying criminal” is any person, carrying a gun, who commits a criminal act — like shooting someone. There is no sign on his forehead saying, “I am a criminal.” He is not recognizable on the street. He could be the guy sitting next to you on the bus. He could be your neighbor. He could be you.

You have a gun. You are angry about something. Maybe some jerk cuts you off on the road. Maybe your neighbor’s kid has a loud 2:00AM party. Maybe you were fired, today. And now a rude cop pulls you over.

Bam!

So that is the first Control problem. Controlling guns themselves.

The gun and ammo manufacturers have created a perfect business plan:

1. Bribe politicians to misinterpret and ignore the “militia” clause of the Constitution, to allow almost everyone to carry virtually every kind of gun.
2. Tell the populace that because almost everyone is carrying a gun, “you need to carry one, too.”
3. Fund an organization (NRA, et al.) to take the public heat and to spread the propaganda.
4. Convince the populace that any gun control is a government plan to take away their guns.
5. Return to point #1 and repeat.

So that is the second Control problem: Controlling the information about guns.

Police unions are “very much concerned” over the increased number of attacks on officers, which seem to be planned ambushes and unprovoked attacks.

Police unions are a bad idea on their face. A strike for better wages or working conditions, would cause great harm to the entire community and the resultant animosity. So instead, the unions justify their dues by defending every officer from every charge, no matter how guilty the officer may be.

Officers who, within the department, are well known to be dishonest or racist or just plain mean bullies, are protected from punishment, which means they keep doing the very things that cause mistrust and anger among the populace — things leading to “unprovoked” attacks on police..

Additionally, there is the “blue wall of silence,” where police officers refuse to report fellow police for serious breaches of rules. They are caught in a system, where silence about evil is called “loyalty,” and reporting evil is punished.

We see repeated stories about an officer being shown on tape abusing a citizen, only to “discover” later that this was not his first transgression that previously had been covered up.

Is it any wonder that many in the public hate the very people who defend them?

So that is the third Control problem: Controlling the police.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

There are solutions to the three Control problems: Gun Control, Information Control and Police Control.

Gun Control
With a right wing Supreme Court, any type of sensible gun control seems impossible (except ironically, when it comes to the Supreme Court itself, where for the Justices own protection, guns are not allowed).

But there are two proposed laws that would avoid the misinterpretation of the 2nd Amendment, but still provide some gun Controls.

1. Any person who commits a felony while carrying a gun, shall be sentenced to a prison term of 20 years to life, in addition to the term for the felony itself.
2. Any provider of a gun that is used in a felony shall have the same criminal and civil liabilities as the actual perpetrator of the felony.

Click on the link to see the rationale for each proposed law.

Information Control
Those who favor gun control should cease anti-gun ownership efforts (that battle is lost), and instead invest their time and money to support the creation of a pro-gun organization. Call it the U.S. Gun Rights Organization (USGRO).

USGRO would support the rights of Americans to own guns, but also support laws (See the above link) that, while not limiting the rights of citizens to own guns, still fight illegal gun violence.

Harshly prosecute the “bad guys,” the illegal users of guns and their suppliers, rather than the “good guys,” the innocent gun owners.

Police Control
Some organizations should not be unionized. The army, the fire department, the police, Congress are examples. They never should be allowed to go on strike, and they never should be allowed to negotiate for work rules or to interfere with management.

Police unions, whose primary function seems to be to cover up for bad police officers, actually do great harm to the police. By helping miscreants to go unpunished, they create strong resentment among the populace, and it is this resentment and the lack of respect it breeds, that leads to police killings.

The rule in every police department should be: Any officer who becomes aware of a rule infraction by a fellow officer, must report that infraction immediately to his superior, or be equally guilty of the infraction.

This rule should apply not just to beat patrolmen, but all the way up to the chief himself.

In summary: The public has grown angry with the people hired to protect them. The police have grown angry with the public for not appreciating the effort and the danger involved.

Both public and police are victims of lack of Gun Control, Information Control and Police Control. Control can be exerted, not by laws restricting gun sales and ownership, but by forcing gun and ammo manufacturers, gun sellers, gun users, gun owners and the police to accept full responsibility for what they do.

The idea is not to fight gun owners, the vast majority of whom are good, honest people. That fight is being fostered by the gun and ammo manufacturers, who have worked hard to create a psychological civil war, where the populace is encouraged by fear, to buy their products.

We have fallen into their trap of believing we need more, bigger, more deadly guns, for our own safety. But, guns do not make us safe. We all should join together to achieve safety, by creating the rules, laws and an environments conducive to safety.

It begins with control.

“If I want the gun, I accept the responsibility.”

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Here is your test: What kind of state government do you have? Think.

Twitter: @rodgermitchell; Search #monetarysovereignty
Facebook: Rodger Malcolm Mitchell

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●The single most important problem in economics is the gap between rich and poor.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap.

=========================================================================================================================================================================================================================

Let’s say you are the governor of a state, and the federal government said to you:

“We will send you millions of dollars for your state. You can use those millions to pay salaries, buy services and buy equipment in your state, to stimulate your state economy.

“Those millions will help grow and improve your hospitals, pay for more doctors, nurses and other medical service providers, and pay for untold numbers of goods and services, in your state.

“The millions then will flow throughout your state, stimulating virtually every business, and benefiting virtually every citizen of your state.

“And it won’t cost you a penny for five years.

“Then, even after that five-year period, your cost will be only 10% of what we continue to send you, so if we send you $100 million, you only will have to spend an additional $10 million in your state.

“Finally, this money will help thousands of your poorest citizens receive medical care they now cannot afford — all at no cost to you.“

What would you say, as the governor who was elected to provide the best for the people of your state?

Think.

On the other hand, if you were a governor who cared nothing about your state or the people in it — especially the poor people — a governor who was so locked into political hatred you were willing to throw away hundreds of millions, if not billions of dollars, just for political spite — what would say?

Think.

Look at the map and graphs below, which you also can find here, to see what kind of state government you have:

monetary sovereignty

This is your test: Aside from caring nothing for the health and prosperity of the citizens of their state, what else do the brown-colored state governments have in common?

Think.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

As you know, the federal government has run out of dollars. How stupid? Very stupid.

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap.

======================================================================================================================================================================================================

As you know, the federal government has run out of dollars — John Boehner told me — so the government needs to cut spending:

In Congress, Income Inequality Comes With Breakfast, Lunch
AP|By CHARLES BABINGTON and LAURIE KELLMAN, Posted: 05/03/2015

Many of the Capitol’s food servers, who make the meals, bus the tables and run the cash registers in the restaurants and carryouts that serve lawmakers, earn less than $11 an hour.

Some make nothing at all when Congress is in recess.

You see, it’s important that the federal government not spend the dollars it has the unlimited ability to create, and what better place to save money than on poor people’s salaries?

Members of the House and Senate collect their $174,000 annual salaries whether Congress is making laws, taking a break or causing a partial government shutdown.

Well . . . ahem . . . not all salaries need to be cut. After all, our Congress has been so effective, we need to reward them with big money, in addition to campaign “contributions” (aka “bribes) and many other perks.

But, lest you think Congress doesn’t know how to be generous:

Both Bailey and Tesfahun (two Capitol servers mentioned in the article) said they once received a pay raise of 3 cents an hour.

It’s too bad the whole thing isn’t handled by private industry, which as everyone knows, not only is more efficient than the government, but more concerned about its employees:

All (Capitol food workers) work for Restaurant Associates, a major New York-based contractor that handles food services for the House and Senate.

The House privatized its food operations decades ago. The Senate ran its own operations, at heavy losses, until 2008. That’s when the then-Democratic majority said taxpayer subsidies were unsustainable, and Restaurant Associates won the contract to take over. (Senators approved the 2008 switch in a voice vote, which any dissenter could have blocked).

Well, that’s just a teensy little lie, because:

1. Taxpayers do not fund federal spending. Unlike state and local governments, the federal government creates dollars ad hoc, simply by paying bills (i.e. sending dollars into the private sector).
2. Thus no federal spending is unsustainable.
3. You hand over spending to the private sector, because you want them to cut spending, which means sending fewer dollars to employees and suppliers — all in the private sector. And you don’t want to be blamed for the abysmal salaries. (That is known as the Pontius Pilate defense — Matthew 27:24)

Anyway, as Republican John Boehner said, “We’re broke.” He meant the federal government, which mysteriously seems to have lost its ability to create its own sovereign currency.

So, being “broke,” the government needs to increase taxes.

Repeal of Estate Tax Rewards Billionaires, Punishes Working Americans
Posted: 04/15/2015

Recently, the House voted for a budget that would end tax credits for many working families that put $1,000 a year in their pockets, on average.

The Republican budget also would cut $5 trillion in funding for benefits and services that make groceries, health care and college more affordable, pay for road improvements, and invest in scientific research.

Yes, we’re broke, so obviously we have to stop feeding those “takers.”

House conservatives (also) plan to eliminate the estate tax, which is paid only by multi-millionaires and billionaires.

An estate has to be worth at least $5.4 million before a dime in taxes gets paid. If the estate is passed on by a couple, it has to be worth nearly $11 million.

Well . . . we have to reward those “makers,” who give politicians the big political contributions, don’t we?

Abolishing the estate tax — which only affects the wealthiest two-tenths of one percent of families — will cost $269 billion over the next 10 years.

For $269 billion, we could replenish the fund that maintains our highways and transit systems (164 billion), and let every low- to moderate-income 4-year-old attend a good preschool ($75 billion).

Or, for $269 billion we could send 9 million striving Americans to community college tuition-free at a cost of $60 billion; keep college affordable for millions more by reversing proposed budget cuts to Pell Grants ($89 billion), which help pay for tuition for needy kids; and ensure there’s enough food on the table for children, seniors, veterans and their families by restoring $125 billion in cuts to food stamps made in the Republican budget.

Of course, since the government really does not need tax dollars, it simply could (should) reverse those ill-conceived spending cuts, regardless of tax collections.

And here is the important part:

The estate tax (is) the only federal levy that curbs the growth of huge inherited fortunes.

America thinks of itself as a classless society, but the nation’s richest one-tenth of one percent holds as much wealth as the bottom 90 percent combined, according to a recent academic study. Translation: 120,000 households own as much stuff as 110 million families.

We are not a classless society. America actually is closer to India, with its castes ranging from Brahmins to “untouchables,” than to the “all men are created equal” society we claim.

The single biggest financial problem facing America is the widening Gap between the rich and the rest — a Gap purchased the rich via political contributions (bribery) and by promises of lucrative employment later (more bribery).

They call it the “death tax” to imply every family losing a loved one pays it. But, 99.8 percent of American families are untouched by the estate tax.

Opponents claim families are forced to sell farms and small businesses to pay the tax. In fact, no family farm has ever been sold to pay the estate tax. Of the millions of small businesses and small family farms, only 20 paid any estate tax in 2013, according to the Tax Policy Center.

So the need to cut costs is a lie, and the need to cut taxes on the rich is a lie.

And the voting mopes are stupid enough to fall for the same lies, year after year after year.

How stupid? Very stupid.

And sad.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY

–Jimmy Carter unknowingly explains the real problem in Gaza — in one sentence

Mitchell’s laws:
●Those, who do not understand the differences between Monetary Sovereignty and monetary non-sovereignty, do not understand economics.
●The more federal budgets are cut and taxes increased, the weaker an economy becomes. .
●Liberals think the purpose of government is to protect the poor and powerless from the rich and powerful. Conservatives think the purpose of government is to protect the rich and powerful from the poor and powerless.
●Austerity is the government’s method for widening the gap between rich and poor.
●Until the 99% understand the need for federal deficits, the upper 1% will rule.
●To survive long term, a monetarily non-sovereign government must have a positive balance of payments.
●Everything in economics devolves to motive, and the motive is the Gap.

==========================================================================================================================================================================================================================

In just one sentence, Jimmy Carter articulated the real problem in Gaza. He just didn’t realize it.

Former President Jimmy Carter: Gaza situation ‘intolerable’

JERUSALEM (AP) — Former U.S. President Jimmy Carter said Saturday that eight months after a bloody war in the Gaza Strip the situation there remains “intolerable.”

Carter and his delegation were supposed to visit the isolated territory but earlier this week called it off citing unspecified security concerns.

Speaking to reporters in Jerusalem, Carter said he was still determined to work for a Palestinian state in the West Bank and Gaza.

Those “unspecified security concerns” meant Carter felt he wasn’t safe in the very land he says should be an independent state.

This is the land that vows to destroy Israel, but at the same time, Carter wants Israel to grant it more land for rocket launches.

And here is the definitive Jimmy Carter statement about Gaza and Palestine:

“What we have seen and heard only strengthens our determination to work for peace,” he said. “The situation in Gaza is intolerable.

“Eight months after a devastating war, not one destroyed house has been rebuilt and people cannot live with the respect and dignity they deserve.”

Think about it. In eight months, Hamas has not rebuilt one house. Meanwhile, its work has been going forward furiously to build bigger, stronger, longer attack tunnels.

That is where all that concrete, Israel allow to enter, has gone — concrete Hamas said it would use for house-building, has been diverted for terrorist tunnels.

Is is any wonder the people of Gaza cannot live with respect and dignity? They live under a cruel and aggressive terrorist regime that cares nothing for peace, and cares nothing for the people of Gaza. In fact it uses its own civilians as human shields, when it fires its rockets.

Carter and the political innocents worldwide may wish for a “two-state solution.” They complain Israel does not allow it.

But this is not what Hamas wants. For Hamas, the sole goal is the destruction of Israel, regardless of the pain that effort causes its own people.

Not peace. Not the adorable “two-state solution,” so beloved in the imaginations of the naive left and on college campuses.

No, Hamas wants only the power that comes with telling its people that somehow, their salvation lies with the destruction of Israel, and the death of all Jews.

“Not one destroyed house has been rebuilt.”

Jimmy Carter, the perennial apologist for terrorism and critic of Israel, could not have explained it better.

Rodger Malcolm Mitchell
Monetary Sovereignty

===================================================================================
The Ten Steps to Prosperity:

1. Eliminate FICA (Click here)
2. Federally funded Medicare — parts A, B & D plus long term nursing care — for everyone (Click here)
3. Provide an Economic Bonus to every man, woman and child in America, and/or every state a per capita Economic Bonus. (Click here) Or institute a reverse income tax.
4. Federally funded, free education (including post-grad) for everyone. Click here
5. Salary for attending school (Click here)
6. Eliminate corporate taxes (Click here)
7. Increase the standard income tax deduction annually. (Refer to this.)
8. Tax the very rich (.1%) more, with higher, progressive tax rates on all forms of income. (Click here)
9. Federal ownership of all banks (Click here and here)
10. Increase federal spending on the myriad initiatives that benefit America’s 99% (Click here)

Initiating The Ten Steps sequentially will add dollars to the economy, stimulate the economy, and narrow the income/wealth/power Gap between the rich and the rest.
——————————————————————————————————————————————

10 Steps to Economic Misery: (Click here:)
1. Maintain or increase the FICA tax..
2. Spread the myth Social Security, Medicare and the U.S. government are insolvent.
3. Cut federal employment in the military, post office, other federal agencies.
4. Broaden the income tax base so more lower income people will pay.
5. Cut financial assistance to the states.
6. Spread the myth federal taxes pay for federal spending.
7. Allow banks to trade for their own accounts; save them when their investments go sour.
8. Never prosecute any banker for criminal activity.
9. Nominate arch conservatives to the Supreme Court.
10. Reduce the federal deficit and debt

No nation can tax itself into prosperity, nor grow without money growth. Monetary Sovereignty: Cutting federal deficits to grow the economy is like applying leeches to cure anemia.
1. A growing economy requires a growing supply of dollars (GDP=Federal Spending + Non-federal Spending + Net Exports)
2. All deficit spending grows the supply of dollars
3. The limit to federal deficit spending is an inflation that cannot be cured with interest rate control.
4. The limit to non-federal deficit spending is the ability to borrow.

THE RECESSION CLOCK
Monetary Sovereignty

Monetary Sovereignty

Vertical gray bars mark recessions.

As the federal deficit growth lines drop, we approach recession, which will be cured only when the growth lines rise. Increasing federal deficit growth (aka “stimulus”) is necessary for long-term economic growth.

#MONETARYSOVEREIGNTY